ECOWAS: Market for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in ECOWAS

The ECOWAS market for flexible tubes, pipes and hoses of plastics, with fittings soared to $X in 2022, increasing by 21% against the previous year. Over the period under review, consumption recorded a prominent increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings in ECOWAS

In value terms, production of flexible tubes, pipes and hoses of plastics, with fittings amounted to $X in 2022 estimated in export price. Overall, production enjoyed prominent growth. The growth pace was the most rapid in 2020 with an increase of 56% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Exports in ECOWAS

In 2022, the amount of flexible tubes, pipes and hoses of plastics, with fittings exported in ECOWAS dropped rapidly to X tons, reducing by -34.1% on the previous year's figure. Overall, exports showed a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 391%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of flexible tubes, pipes and hoses of plastics, with fittings declined remarkably to $X in 2022. Over the period under review, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2017 with an increase of 227%. The level of export peaked at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Ghana was the largest exporter of flexible tubes, pipes and hoses of plastics, with fittings in ECOWAS, with the volume of exports recording X tons, which was near 53% of total exports in 2022. Togo (X tons) took the second position in the ranking, distantly followed by Senegal (X kg) and Sierra Leone (X kg). All these countries together held approx. 41% share of total exports. Nigeria (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to flexible tubes, pipes and hoses of plastics, with fittings exports from Ghana stood at -11.0%. At the same time, Sierra Leone (+47.0%), Togo (+22.5%) and Senegal (+22.2%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +47.0% from 2012-2022. By contrast, Nigeria (-4.6%) illustrated a downward trend over the same period. While the share of Togo (+23 p.p.), Senegal (+9.1 p.p.) and Sierra Leone (+6.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-39.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest flexible tubes, pipes and hoses of plastics, with fittings supplier in ECOWAS, comprising 61% of total exports. The second position in the ranking was taken by Ghana ($X), with a 22% share of total exports. It was followed by Sierra Leone, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal totaled +50.9%. In the other countries, the average annual rates were as follows: Ghana (-6.5% per year) and Sierra Leone (+46.9% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by 18% against the previous year. In general, the export price showed prominent growth. The most prominent rate of growth was recorded in 2019 when the export price increased by 90% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+23.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, with Fittings

Imports in ECOWAS

In 2022, imports of flexible tubes, pipes and hoses of plastics, with fittings in ECOWAS skyrocketed to X tons, growing by 171% on the previous year. Overall, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of flexible tubes, pipes and hoses of plastics, with fittings surged to $X in 2022. In general, imports saw a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 100% against the previous year. Over the period under review, imports of reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria was the key importer of flexible tubes, pipes and hoses of plastics, with fittings in ECOWAS, with the volume of imports amounting to X tons, which was near 67% of total imports in 2022. It was distantly followed by Benin (X tons), comprising a 20% share of total imports. Senegal (X tons), Ghana (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +39.0% from 2012 to 2022. At the same time, Benin (+70.3%), Burkina Faso (+38.2%), Senegal (+16.4%) and Ghana (+1.6%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +70.3% from 2012-2022. Nigeria (+36 p.p.) and Benin (+18 p.p.) significantly strengthened its position in terms of the total imports, while Senegal and Ghana saw its share reduced by -4.9% and -25.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported flexible tubes, pipes and hoses of plastics, with fittings in ECOWAS, comprising 37% of total imports. The second position in the ranking was held by Benin ($X), with a 17% share of total imports. It was followed by Ghana, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to +24.8%. The remaining importing countries recorded the following average annual rates of imports growth: Benin (+52.5% per year) and Ghana (-1.7% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, waning by -49.2% against the previous year. In general, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 an increase of 19% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform